A Wise Saying – Part 77

The following wise saying is a quote from David Stockman’s latest book titled: ” The Great Deformation. ” The quote is from page 696. Sanityandsense.com recommends Mr. Stockman’s book to all of our readers.

” … {H}ealth-care inflation came to occupy its own perch far above all others. During the last half century, for example, the consumer price index has risen by 8X, average wages by 10X and hospital costs by 40X. Inflation in physician costs, drugs, lab tests, and most other health services has been only slightly less explosive, but the underlying cause is the same: routine health services are not insurable risks because both providers and consumers heavily drive the frequency and cost of service…”